Business Loan from Chittenden Trust Company Given to Full-Service Restaurants Company

Chittenden Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Chittenden Trust Company, out of Burlington, Vermont. The loan was granted and they received $347,147 to help grow their Putney, Vermont business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PUTNEY, VT 05346

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/12/2002

Loan Approval Gross Amount

$347,147

Loan Approval from the SBA

Of the total $347,147 loan amount, the SBA guaranteed $260,360.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 70 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Putney VT, you ought to talk with a local Putney SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Putney businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $347,147 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

SBA 7A Banks in Burlington, Vermont

Where to Get an SBA Loan Vermont